Cairo – Mubasher: The board of directors of Orascom Investment Holding (OIH) approved a non-interest bearing loan worth EUR 81.70 million provided to the company by its North Korea-based subsidiary, CHEO Technology.
The loan will be transferred to and kept at OIH’s bank account in North Korea as per the applicable laws and regulations, according to a stock exchange statement on Tuesday.
In the first half (H1) of 2022, Orascom Investment Holding turned to profits, earning EGP 105.32 million in consolidated net profits, against net losses of EGP 66.55 million in H1 of 2021.
